Premier Choice Healthcare has acquired two books of PMI business.
Premier Choice Healthcare (PCH), the health insurance intermediary owned by GRP, has announced two acquisitions, Visibly Financial Services (trading as Visibly Health) and, separately, a book of business controlled by Gill Nicholson, a self-employed consultant.
The deal follows similar dual acquisitions for PCH, with two in August and two in November last year.
The two businesses operate in the health insurance space, and PCH is buying the portfolios of customers for both.
Visibly Health, which is Cambridge-based, is led by Debbie Jones and focuses on private medical cover for SME businesses. Debbie will join PCH post-completion as a brand ambassador to enable her to assist PCH with customer retention as well as sales growth.
Gill Nicholson is based in County Durham and has been a consultant for PCH for the previous 11 years. After completion, Gill will step back from the day-to-day management of her portfolio but, like Debbie Jones, will also become a PCH brand ambassador post-completion.
Stephen Hough, PCH managing director, explained that a PCH consultant will manage the Visibly Health SME portfolio and an adviser within Equity Health Solutions (Specialist Consumer PMI division of PCH) will look after the private clients.
“Visibly Health is a well-run, successful private healthcare intermediary with an experienced leader in Debbie Jones. I’m pleased that she will continue to support the portfolio in the future.”
“This is an important acquisition for PCH, and we are keen to talk to other entrepreneurs in our sector looking to take some value from their life’s work.”
Turning to Gill Nicholson’s portfolio, which comprises PMI insurance and employee benefits, of which 93% relates to SME businesses, Mr Hough said: “This deal fits with our broader strategy of buying businesses and portfolios from within our existing network. Moreover, it’s great that we are able to capitalise on Gill’s skills, experience and track record in building a successful portfolio in the PMI sector.”
“We are keen for self-employed consultants and ARs to see PCH as the best possible home for them as a platform on which to grow. In addition, once they are looking to step back and retire, they can optimise the value for their business through a seamless sale to PCH.”